Nokia has announced the closure of its acquisition of Gainspeed, a US-based startup specialized in the development of a “virtual” Converged Cable Access Platform. Gainspeed is regarded as the leaders in DAA (Distributed Access Architecture) solutions for the cable industry.
With this acquisition, Nokia’s product portfolio for cable operators will expand. It will operate as a part of Nokia’s Fixed Networks business group. The financial terms of the deal remain unrevealed. However, Nokia will announce its quarterly earnings on August 4 and the financial terms of the acquisition may reflect in the same.
Federico Guillen, president of Nokia’s Fixed Networks business group said, “We are very excited to have Gainspeed, the technology leader in its field, joining us. Cable is one of the fastest growing areas in our fixed networks business, and we are committed to delivering a complete solution set to cable operators. Gainspeed’s Virtual CCAP perfectly complements our leading fiber access solutions for cable MSOs.”
The deal to buy Gainspeed was first announced on June 10. Gainspeed was a privately-held firm with 70 people located in California, U.S.